Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have the budget to hire an accountant, doing it on your own could be risky. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Even though this is lengthy it is possible to assess whether TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Install Centos
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to make their business more organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting platform seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. This means that there is no need to collect information from multiple sources and sort it into one platform. All you have to do is connect TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. In this review, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns TaxJar will train you on managing the tax returns. However, it will be up to you and your team members to complete the process on time. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff can access everything you need, like the list of transactions, reports, and the data.
The best part about this option is the fact that they allow you to update automatically every day. They not only let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals in your business. You can also export the data to CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just on their platform, but everything connected to sales tax. You can check out their webinars, guides, as well as their blog to find more information. In addition their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale business owner, this plan could be perfect for you. It may not have all the features of TaxJar however, it does include the basic features you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for that is more than the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Install Centos
But they did state that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to see whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it aid in tracking your revenue and products however, it will help you meet the deadlines you set. It is also a great option for accountants as they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax laws, this will surely help you wrap your mind around it. TaxJar Install Centos
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete, you might be better to do it on your own.
FAQ TaxJar Install Centos
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.